First National Bank
Outrageous Interest Rates for Platinum Client

FNB must be catching a lot of unsuspecting desperate people in this manner.

Let me start by stating that FNB does not disclose the interest rate when you apply for personal loan on their website. They only supply you with the repay amount once you are pre-approved.

I moved my entire account from ABSA at the beginning of the year to FNB expecting improved service and benefits. I have an immaculate credit record and I always keep my accounts in good standing.

After I requested that they call me for a loan offer, I specifically asked what interest rate I qualify for and was astonished to hear of their proposal of 20%. My last personal loan at ABSA was 12%. So I queried this.

No one is able to tell me why the interest rate is so high and I was greeted with a "take it or leave it attitude".

I wen't into the Cresta branch where is was given a phone to speak to someone from loans. Same result. " We don't negotiate interest rates". " Take it or leave it". Can someone please tell me why I only qualify for a 20% interest personal loan? You are willing to give me the same amount on a 12.5% overdraft.

Company: First National Bank
Country: South Africa
City: Personal Loans

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